Windhoek, May 31 (IANS) Namibia plans to introduce a state-coordinated petroleum import system by the end of September as part of efforts to lower fuel costs and improve efficiency in the country’s fuel supply chain, according to the Ministry of Industries, Mines and Energy. In a statement, Namibia’s Industries, Mines and Energy Minister Modestus Amutse said the government is at an advanced stage of finalising Bulk Petroleum Import Coordination Regulations that will allow the state to coordinate…
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New Delhi, May 24 (IANS) Pakistan is grappling with a mounting foreign exchange crisis driven by pressure to repay roughly $4.8 billion of external debt, weak investor confidence, and falling foreign direct investment (FDI), according to an international media report. The report in the Times of Oman stated that foreign direct investment in Pakistan plummeted by 33 per cent in FY26 to $1.195 billion from $1.92 billion in 2023–24 and $1.83 billion in 2024–25. As a share of GDP, FDI remained be…
New Delhi, May 23 (IANS) Pakistan is grappling with a mounting foreign exchange crisis driven by pressure to repay roughly $4.8 billion of external debt, weak investor confidence and falling foreign direct investment (FDI), a report has said.The report from Times of Oman said that foreign direct investment plunged 33 per cent in FY26 to $1.195 billion, continuing a declining trend of $1.92 billion in 2023–24 and $1.83 billion in 2024–25. As a share of GDP, FDI remained below 0.45 per cent.De…
New Delhi, April 18 (IANS) Petroleum and Natural Gas Minister Hardeep Singh Puri said that India is moving from “blind exploration” to data-driven discovery, emphasising the need for a more collaborative and open data ecosystem, it was announced on Saturday.The Directorate General of Hydrocarbons (DGH) convened a conference on ‘Data Driven Exploration’ to engage industry stakeholders on accelerating India’s exploration outcomes through a stronger data ecosystem, in line with the country’…
New Delhi, March 13 (IANS) Former general secretary of the All India Football Federation (AIFF) Kushal Das passed away here on Friday at the age of 66. He is survived by his wife and two sons. Das, who served the federation for 12 years, took charge as the AIFF general secretary in November 2010. Before joining AIFF, Das served as the chief financial officer of the International Cricket Council (ICC) in Dubai.He oversaw landmark events and structural changes that helped raise the profile of the …
New Delhi, Jan 25 (IANS) With exports stagnating and cost of doing business skyrocketing, Pakistan is going through an ‘investment emergency’ amid ad-hocism and a lack of transparency in policy affairs, a new report has revealed.According to the Federation of Pakistan Chambers of Commerce and Industry, the cost of doing business in Pakistan is 34 per cent higher than that of its neighbours and regional states.“This pushes the entire gamut of the economy on a slippery note as industries, entrep…
New Delhi, Jan 17 (IANS) The admission by Pakistan Finance Minister Muhammad Aurangzeb that some multinational companies have left the country due to ‘high taxes and energy costs’ has proved that doing business there is becoming extremely difficult for global firms.Addressing the Pakistan Policy Dialogue, hosted by Policy Research and Advisory Council (PRAC), in Islamabad, he said there are firms that are leaving Pakistan, “which is true”, reports Pakistan Observer.“We must acknowledge if …
New Delhi, Jan 12 (IANS) Pakistan is facing an exodus of global companies across sectors due to the unfriendly business climate exacerbated by military dominance in commerce, a media report said. This development is leading to a decline in foreign direct investment and job creation in a country that is already struggling with an economic crisis, according to an article in the Asian News Post.The major multinational corporations that have exited Pakistan in recent years include fast-moving consum…